Demand for Tank Insulation Market is forecasted to reach a value of US $8.44 billion by 2029
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The Business Research Company's Tank Insulation Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034
LONDON, GREATER LONDON, UNITED KINGDOM, November 28, 2025 /EINPresswire.com/ -- How Large Will The Tank Insulation Market Be By 2025?
The market size of tank insulation has been on a steady rise in the past few years. It is projected to increase from $6.4 billion in 2024 to $6.65 billion in 2025, reflecting a compound annual growth rate (CAGR) of 4.0%.
In the upcoming years, the tank insulation market is projected to witness robust expansion. The market scale is forecasted to reach $8.44 billion by 2029, with a compound annual growth rate (CAGR) of 6.1%. The predicted upswing during the forecasted timeline can be ascribed to multiple factors like the escalation in renewable energy storage, dedication towards energy preservation, worldwide concentration on renewable fuels, governmental incentives directed towards energy effectiveness, and the incorporation with heat recovery systems. Key trends expected to shape this market during the forecasted period include smart insulation technologies, upkeep and retrofitting, the dynamics of global LNG trade, technological evolution, and investments in the chemical and petrochemical sectors.
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What Are The Major Driving Forces Influencing The Tank Insulation Market Landscape?
The rise in chemical manufacturing plants is projected to stimulate the tank insulation market's growth trajectory. These chemical manufacturing entities partake in a variety of processes, operations, and the creation of chemicals and their related products. Insulation plays a vital role in preserving consistent operational temperatures by minimizing heat increase and lessening the strain on cooling and heating units. In order to maintain these homogeneous operational temperatures for optimal processing, chemical tanks are insulated. The insulation of storage tanks helps to cut costs, regulate temperatures, and solve condensation issues caused by sudden shifts in temperatures. The upswing in chemical manufacturing plants subsequently results in an increased demand for insulation in chemical tanks and containers, thereby fueling the growth of the tank insulation market. For example, a report published by BASF, a German chemical manufacturing firm, predicted a 2.0% rise in global chemical production, excluding pharmaceuticals, in 2023 as compared to those recorded in 2022. Furthermore, it's projected to see a 2.7% growth between 2023 and 2025. The proliferation of chemical manufacturing plants, therefore, is a significant driver in the prosperity of the tank insulation market.
Who Are The Top Players In The Tank Insulation Market?
Major players in the Tank Insulation include:
• Rockwool A/S
• Owens Corning
• Saint-Gobain S
• Kingspan Group PLC
• Armacell International S
• Johns Manville
• Knauf Insulation Inc.
• BASF SE
• Gilsulate International Inc.
• Commercial Thermal Solutions Inc.
What Are The Top Trends In The Tank Insulation Industry?
Product novelty emerges as an important trend in the tank insulation market. The dominant companies in this sector are centering their efforts in creating novel solutions to reinforce their market standing. To exemplify, in October 2022, Skipper Limited - a notable company from India specialized in power infrastructure and polymer manufacture - is set to launch a product range of water tanks named 'Marina'. Specifically designed to suit both domestic and business uses, the Marina tanks utilize cutting-edge insulation technology provided by 4 and 3 layers of foam to guarantee clean and anti-bacterial water storage. Innovatively manufactured with Roto Mold technology and supplemental ribs, these tanks promise enhanced strength and longevity.
Market Share And Forecast By Segment In The Global Tank Insulation Market
The tank insulation market covered in this report is segmented –
1) By Type: Storage Tank Insulation, Transportation Tank Insulation
2) By Material: PU And PIR, Rockwool, Fiberglass, Elastomeric Foam, Cellular Glass, EPS, Other Materials
3) By Temperature: Cold Insulation, Hot Insulation
4) By End-Use Industry: Oil And Gas, Chemical, Food And Beverage, Energy And Power, Other End-Use Industries
Subsegments:
1) By Storage Tank Insulation: Vertical Storage Tank Insulation, Horizontal Storage Tank Insulation
2) By Transportation Tank Insulation: Insulated Tank Trailers, Insulated Rail Tank Cars, Insulated Shipping Containers
View the full tank insulation market report:
https://www.thebusinessresearchcompany.com/report/tank-insulation-global-market-report
Tank Insulation Market Regional Insights
In 2024, the tank insulation market was dominated by the Asia-Pacific region. During the forecast period, it is anticipated to record the highest growth rate. The tank insulation market report includes regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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